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11 November 16 MinutesCRC Meeting, November 16, 2016 1 CARMEL REDEVELOPMENT COMMISSION Meeting Wednesday, November 16, 2016 ATTENDANCE: President Bill Hammer Present Vice President Dave Bowers Present Secretary Henry Mestetsky Present Treasurer Christine Pauley Not Present Member Bill Brooks Present Member Jeff Worrell Present Member Michael Kerschner Present Executive Director Corrie Meyer Present Deputy Director Michael Frischkorn Present Office Manager Michael Lee Present City Attorney Ashley Ulbricht Present Legal Consultant Karl Haas Present Bond Counsel Bruce Donaldson Present President Bill Hammer called the meeting to order at 6:43 p.m. The Pledge of Allegiance was said. Approval of Minutes October 19, 2016: Mr. Brooks moved to approve, seconded by Mr. Bowers. Approved unanimously. Financial Matters Mr. Lee stated the Commission’s end of the month October balance totaled $3,631,471 and, including the restricted funds, the balance totaled $7,474,381. Liquidity Reserve for Midtown East bonds of $716,324 that will come back to the CRC when the north garage is complete. Update on Outstanding Receivables Mr. Lee stated there are two outstanding receivables: 1) Project Blue invoices of $15,643. 2) Initial Energy Consumption Fee for The Mezz of $173,205 Mr. Brooks asked if there was timing on the payment from the Mezz. Mr. Lee informed the members that there was not but that the request for payment had just been made and that staff was awaiting a response. Approval of Claims Mr. Lee stated that there are non-operating invoices in the amount of $220,690.58. Mr. Lee requested the Commission to approve the non-operation invoices in the amount of $220,690.58. Mr. Mestetsky moved to approve, seconded by Mr. Worrell. Approved unanimously. Mr. Lee stated that there are disbursements from the City Center Phase II Bond fund in the amount of $1,026,291.50. Mr. Worrell moved to approve, seconded by Mr. Bowers. Approved unanimously. CRC Meeting, November 16, 2016 2 Mr. Lee stated that there is a disbursement to be paid out of the Midtown Phase 1A Bond fund in the amount of $507,282.23. Mr. Brooks moved to approve, seconded by Mr. Worrell. Approved unanimously. Executive Director Reports with Update on Properties Mrs. Meyer gave updates on the following projects: Park East Garage, City Center site work, Midtown East North garage, Sun King Distillery, received bids for Kent building site work, and Palladium Plaza. Demolition has begun on the Proscenium project. The Midtown East project is very busy with three projects proceeding simultaneously. The City is currently working with Duke Energy to relocate power poles that are impacting the Midtown East North Garage. Mr. Hammer asked about including information about the Duke Energy power line relocation project in the City Council report. Mrs. Meyer will include it. Committee Reports The Finance Committee did not meet in November. The Architectural Review Committee did meet on November 1st. The Committee reviewed the design drawings for the Monon and Main project, Midtown South project, and the Sun King Distillery project. Old Business There is no old business. New Business Action Item #1: Acceptance/Rejection of bid for Kent site work Mrs. Meyers informed the Commission that we had received one bid for the Kent site work. Staff asked that the CRC award the contract to Smock Fansler but to only approve Items 1, 2, and 3 with Alternate 1 for a total of $1,096,400 and leave out Item 4 because it can be done at a later time. Mr. Worrell moved to approve the acceptance of bid but not to exceed $1,096,400. Mr. Bowers seconded. Approved unanimously. Action Item #2: Approval of Declaratory Resolution for Sunrise allocation area Mr. Donaldson presented the Declaratory Resolution that will expand the Hazel Dell-96th Street allocation area and allow for a potential developer-TIF bond for the Sunrise development in 2017. Mr. Brooks moved to approve the Declaratory Resolution. Mr. Mestetsky seconded. Approved unanimously. Action Item #3: Approval of Declaratory Resolution for Meridian and Main allocation areas Mrs. Meyer asked that the CRC table this Resolution. Mr. Brooks moved to table the Resolution. Mr. Worrell seconded. Approved unanimously. Action Item #4: Approval of Declaratory Resolution for Midtown West allocation area Mr. Donaldson presented the Declaratory Resolution that will create an allocation area for the Midtown West project. This would allow for a bond issue in 2017 on this project. CRC Meeting, November 16, 2016 3 Mr. Mestetsky moved to approve the Declaratory Resolution. Mr. Bowers seconded. Approved unanimously Other Business None at this time. Adjournment Mr. Bowers moved the meeting be adjourned subject to the execution of documents, seconded by Mr. Worrell. The meeting was adjourned at 7:07 p.m. The next regularly scheduled meeting is Wednesday, December 21, 2016 at 6:30 p.m. An executive session was held prior to the public meeting in which the purchase or lease of real property was discussed. The Commission hereby certifies that no subject matter was discussed in the executive session other than the subject matter specified in the public notice.